This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

FreightCar America, Inc. Reports First Quarter 2012 Results

FreightCar America, Inc. (NASDAQ: RAIL) today reported results for the first quarter ended March 31, 2012, with revenues of $219.1 million and net income of $9.7 million, or $0.81 per diluted share. For the same quarter in 2011, the Company reported revenues of $72.2 million and a net loss of $1.3 million, or $(0.11) per diluted share. Revenues were $187.1 million and net income was $8.5 million, or $0.71 per diluted share, in the fourth quarter of 2011.

The Company delivered 2,613 railcars to customers in the first quarter of 2012, of which 2,146 were new cars, 80 were used cars and 387 were leased cars. This compares to 875 railcars delivered in the first quarter of 2011 and 2,489 railcars delivered in the fourth quarter of 2011. There were 1,244 units ordered in the first quarter of 2012. This compares to 4,027 units ordered in the first quarter of 2011 and 4,481 units ordered in the fourth quarter of 2011. Total manufacturing backlog was 6,934 units at March 31, 2012 compared to 5,206 units at March 31, 2011 and 8,303 units at December 31, 2011.

“I am pleased with the first quarter’s strong results,” said Ed Whalen, President and Chief Executive Officer. “We were able to produce railcars at an efficient rate, meeting customers’ delivery requirements while lowering manufacturing costs. We received orders for coal and other types of railcars despite the weak demand for coal. Coal demand was negatively impacted by the mild winter, lower electrical power consumption and low natural gas prices. We expect coal demand to remain under pressure in the near term,” Whalen concluded.

The Manufacturing segment had revenues of $210.4 million in the first quarter of 2012 compared to $63.2 million for the first quarter of 2011. Manufacturing segment revenues were $179.2 million in the fourth quarter of 2011. Operating income for the Manufacturing segment was $22.7 million in the first quarter of 2012 compared to $0.2 million in the first quarter of 2011 and $16.5 million in the fourth quarter of 2011.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,130.19 +50.05 0.28%
S&P 500 2,121.66 +3.97 0.19%
NASDAQ 5,103.3630 +11.2780 0.22%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs